Saving for a home down payment, a car, education, or another big goal? Enter your target, your time frame, what you already have, and an expected return. This free savings goal calculator shows how much you need to save each month.
Savings Goal Calculator
Assumes monthly compounding and deposits at the end of each month. For goals a few years away, many people keep money in low-risk savings rather than stocks.
How It Works
The calculator first estimates how much your current savings could grow by the deadline. It then works out the monthly deposit needed to cover the rest, including the interest those deposits could earn along the way.
Tips for Reaching Your Goal
- Match risk to time frame. Money needed within a few years is usually kept in savings accounts or short-term government bonds, not stocks.
- Automate it. Set up an automatic transfer on payday.
- Plan for extras. For a home, remember closing costs and moving expenses – see how to save for a house down payment.
Learn More
This calculator is for general educational purposes only. Results are estimates based on the numbers you enter and simplified assumptions; they are not financial, investment, or tax advice. See our Disclaimer.